Sharekhan's research report on HCL Technologies
Acquisition of certain assets of Communications Technology Group (CTG) to strengthen its partnership with HPE and enhance its engineering services capabilities. With healthy H1FY25 delivered despite weak seasonality and seasonally strong quarters ahead of it, the company appears well positioned to deliver industry-leading growth among its larger peers. Project Ascend to drive margin expansion through AI-driven automation, fresher deployment, and operational efficiencies among others.
Outlook
We maintain BUY with a revised PT of Rs. 2,180 (valued at 28x Dec26E EPS). At CMP, the stock trades at 29.6/26.6/23.6x its FY25/26/27E EPS.
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